Category Archives: Stockbroker Discharged

Finra Investigation of Stockbroker, J.P. Morgan Securities, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct

Forouzan Pooladi-Former JP Morgan Broker-Barred from FINRA-Great Neck, NY

April 2021-Great Neck, NY

According to publicly available records, former JP Morgan Securities,  financial advisor Forouzan Pooladi,  has been barred from the securities industry.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In August of 2020  in FINRA case 201906474601 Pooladi was  permanently barred from the securities industry to resolve allegations that she refused to provide documents and information requested by FINRA in connection with its investigation initiated after receiving a Form U5 from her member firm indicating that Pooladi was terminated for violating an affiliate bank’s policy governing personal finances by conducting numerous transactions under the currency transaction reporting threshold and for performing an affiliate bank transaction between a business customer and husband’s personal affiliate bank account.  Pooladi was permanently barred from FINRA in all capacities.

Pooladi was employed by JP Morgan from April of 2016 until she was terminated in September of 2019 for violating affiliate Bank Policy by conducting numerous transactions under the currency transaction reporting threshold.   

If you have losses in an account handled by Forouzan Pooladi, call to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Finra Investigation of Stockbroker, Outside Business Activities, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct

Steven Harris-Former Transamerica Financial Broker-Barred from FINRA- Burr Ridge, IL

April 2021- Burr Ridge, IL

According to publicly available records, former Transamerica Financial Advisors, Inc.  financial advisor Steven Harris, discloses two regulatory events, a termination and has been barred from the securities industry.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In March of 2020 FINRA case # 2019062092401 alleged that Harris manufactured faked documents that he then provided to FINRA in response to its request during an investigation of his undisclosed outside business activity.    The complaint alleges that FINRA requested that Harris provide certain financial information and bank statements and in response Harris provided false and incomplete information to it.    Harris created fake bank statements for other accounts he purported to hold and provided manufactured documents to FINRA.    The complaint alleges that Harris repeatedly lied about his actions during an on-the-record testimony, falsely claiming that he did not alter any of the records that he produced to FINRA.   Harris was permanently barred from FINRA in all capacities.

In September of 2017 case 2017053990001 alleged that Harris failed to respond to FINRA request for information.   Sanctions were a 30 day suspension. Harris was employed with Transamerica Financial Advisors, Inc., from August of 2018 until May of 2019 when he was terminated after a complaint was received by the firm alleging that Harris had received funds from a client in relation to an investment opportunity that was not approved by the firm.

Harris was employed with Transamerica Financial Advisors from March of 2018 until May of 2019 when he was discharged after a complaint was received by the firm alleging that Harris had received funds from a client in relation to an investment opportunity not approved by the firm.    

If you have losses in an account handled by Steven Harris, call to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Failure to Supervise, LPL Financial, Merrill Lynch, Misrepresentation, Stockbroker Discharged, Stockbroker Malpractice, Unsuitable Investments, Woodbury Financial Services

Beliveau Bays-Former LPL Financial Stockbroker-Discloses Customer Complaints-Plano, TX

April 2021- Plano, TX

According to his FINRA record  Beliveau Bays, a financial advisor previously employed by LPL Financial and Woodbury Financial Services discloses 2 pending and 2 prior customer disputes and 2 terminations from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

While employed by Woodbury Financial Services two customers complained that Bays had recommended unsuitable purchases of real estate investments. Both of those claims were denied and it appears from the public record that the customers did not proceed with the filing of arbitration.

There are two currently pending customer disputes, both of which allege that Bays affixed the customer’s signature to account documents. No specific damages are alleged.

In 2/2021 Beliveau Bays was discharged by LPL Financial. LPL alleged that Bays provided misrepresentations to the firm in response to inquiries surrounding Bays submission of key person life insurance applications.

Earlier in his career Bays was discharged by Merrill Lynch in 3/2016 who alleged that Bays traded in customer accounts without the customer’s authority.

If you have questions about  an account handled by Beliveau Bays of Bays Capital Management call for a no charge consultation with an experienced securities attorney.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Failure to Supervise, Finra Investigation of Stockbroker, FSC Securities Corporation, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct

Sylvester Knox-Former FSC Securities Broker-Discloses Regulatory Events, Customer Settlements of nearly $3.7M- Short Hills, NJ

April 2021- Short Hills, NJ

According to his FINRA record  Sylvester Knox a financial advisor previously employed by FSC Securities Corporation discloses 4 regulatory events, 25 customer disputes and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In August 2020 Knox, without admitting or denying the FINRA findings,  consented to the entry of findings that he effected transactions with a total principal value of approximately $1.7 million in the accounts of customers in his member firm without the customers’ prior written authorization or consent.   The findings stated that Knox exercised discretionary trading authority and effected transactions with a total principal value of approximately $2 million in the accounts of firm customers’ without having obtained prior written authorization from the customers or approval from the firm to treat the accounts as discretionary.      Sanctions ordered were a nine month suspension and a $10,000 fine.

In May of 2018 Florida Office of Financial Regulation filed Case #87481-SR alleging that Knox made a material misstatement on his application for registration.  He agreed to withdraw his application for registration to FSC Securities.

In January 2018,  Michigan regulators brought an action against Knox.

From December of 1999 until May of 2018,  Knox had 21 customer disputes that were settled. The customers  alleged, among other things, products purchased not compatible for client’s risk tolerance, unsuitable investments, misrepresentation, omission of material facts, unauthorized transactions, unsuitable investment strategy, failure to follow instructions and unauthorized account activity.  These cases collectively settled for almost $3.7 million dollars.

In January of 2017, Knox was allowed to resign from Merrill Lynch, Pierce, Fenner & Smith in response to allegations of “conduct including engaging in unauthorized transactions in certain client accounts, making misrepresentations to certain clients and conduct inconsistent with Firm policies related to client complaints.”

Sylvester Knox was employed by FSC Securities Corporation from January 2017 until August 2018.   Before that he was with Merrill Lynch, Pierce, Fenner & Smith and First Union Brokerage Services, Inc.

If you had an account with Sylvester Knox that suffered losses  you may be entitled to collect damages from his prior employer.

Call for a no charge consultation with an experienced securities attorney.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Failure to Supervise, Finra Investigation of Stockbroker, Morgan Stanley, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct

Benjamin Leitman-Former Morgan Stanley Broker-Disclosed Regulatory Matter and a Termination-New York

February 2021- New York

According to publicly available records   Benjamin Leitman , a former stockbroker who last worked for Morgan Stanley discloses a regulatory event and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In May 2020 FINRA   alleged that Leitman falsely signed customer names on account documents of his member firm and also a letter of authorization seeking the disbursement of customer funds.   The findings stated that while transferring accounts from a broker-dealer to his firm, Lietman affixed the purported signature of a customer onto a contract account document.  Leitman further added a social security number and crossed out numbers for a social security number on the firm account application that the customer had already signed in order to facilitate the processing of the document.   According to FINRA, Leitman affixed the purposed signature of another customer to a corporate document and added social security numbers to the document.   Leitman subsequently provided a second letter of authorization actually signed by the other customer authorization.    FINRA sanctions were a 45 day suspension and a $5,000 fine. FINRA case #2019061903401.

In February 2019 Leitman was discharged from his employment with Morgan Stanley after allegations about his practices in processing documents, including signing and initialing certain documents for clients.

Lietman worked with Morgan Stanley from November of 2018 until his termination 2/2019.   Before that time he had worked with Merrill Lynch, Pierce, Fenner & Smith and AXA Advisors.   

If you had an account with Benjamin Leitman that suffered losses, you may be entitled to collect damages from his prior employer. Call to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870